Maryland HB1298 regulates third-party litigation financing by requiring disclosure of contracts and licensing for financiers.

Maryland HB1298 introduces regulations for third-party litigation financing, requiring parties in civil actions to disclose any litigation financing contracts to all other parties and insurers. This disclosure must occur without waiting for a discovery request and includes details about the contract, participants, and compensation terms. The bill defines "litigation financing" as financing contingent on the outcome of a civil action or derived from the proceeds of a judgment or settlement.

Maryland HB1298 regulates third-party litigation financing by requiring disclosure of contracts and licensing for financiers.

Maryland HB1298 introduces regulations for third-party litigation financing, requiring parties in civil actions to disclose any litigation financing contracts to all other parties and insurers. This disclosure must occur without waiting for a discovery request and includes details about the contract, participants, and compensation terms. The bill defines "litigation financing" as financing contingent on the outcome of a civil action or derived from the proceeds of a judgment or settlement.